Plan Snapshot
- Plan Sponsor: West Technology Group, LLC
- Sponsor EIN: 470777362
- Sponsor Address: 1377 MOTOR PARKWAY, ISLANDIA, NY, 11749
- Plan Type: 401(k)
- Total Participants: 1,626
- Total Assets: $214.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,626 | $214.5M | $2.1M | $7.4M |
| 2023 | 1,997 | $224.2M | $2.9M | $9.0M |
| 2022 | 2,404 | $306.8M | $4.9M | $15.4M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $104,812 | — | $104,812 |
| WELLS FARGO ADVISORS FIN NETWORK | INVESTMENT ADVISORY | $54,999 | $12,501 | $67,500 |
| WEST TECHNOLOGY GROUP | ACCOUNTANT | $17,500 | — | $17,500 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $189,812
- Estimated Expense Ratio: 0.089% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $172,286 | $54,999 | $99,787 | $17,500 | — |
| 2023 | $225,902 | $90,000 | $135,902 | — | — |
| 2022 | $270,632 | $102,476 | $168,156 | — | — |